Group 1 - Goldman Sachs reports that Hong Kong Exchanges and Clearing Limited (00388) has simplified trading and settlement fees, and the Securities and Futures Commission has recently expanded the holding limits for derivative products, indicating a step towards simplifying the platform and enhancing capital efficiency for market participants [1] - The firm has raised its earnings per share forecasts for Hong Kong Exchanges for this year, next year, and 2027 by 2%, 3%, and 4% respectively, and increased the target price from HKD 509 to HKD 524, which corresponds to a forecasted price-to-earnings ratio of 40 times for next year [1] - The firm predicts a downward adjustment in the expected yield from Hong Kong's margin balances to 1.97%, 1.39%, and 1.42% for this year, next year, and 2027 respectively, with average daily sales expected to be HKD 249 billion, HKD 275 billion, and HKD 299 billion for the respective years [1]